SHANGHAI, June 20, 2018 /PRNewswire/ -- ReneSola Ltd
("ReneSola" or the "Company") (www.renesolapower.com) (NYSE: SOL),
a leading fully integrated solar project developer and operator,
announced the closing of the sale of its utility-scale project
located in North Carolina,
United States to New York-based Greenbacker Renewable Energy
Company, LLC ("Greenbacker"), a publicly registered, non-traded
Limited Liability Company focused on investments in renewable
energy power plants and energy efficiency projects as well as other
sustainable investments.
The North Carolina project has
a capacity of 6.75 MW and represents ReneSola's second project sale
to Greenbacker, following a successful sale of a similar project in
April 2017. Rockwood Group, through its partnership with The
Guardian Life Insurance Company of America, facilitated cash and
tax equity financing for the project. The North Carolina project will sell all power
generated to the local utility under a 15-year purchase
agreement.
ReneSola's CEO of North
America, Vice President of Strategy Doran Hole commented, "We are excited to be
continuing to work with Greenbacker. This transaction exemplifies
how ReneSola is able to work closely together with experienced
project buyers, advisors and tax equity investors to successfully
develop and finance solar projects."
ReneSola's Chief Executive Officer Xianshou Li commented, "This
project sale once again demonstrates our capability of developing
and monetizing projects in attractive developed markets as well as
validates our development team's expertise to deliver
cost-competitive distributed power. Additionally, I am very
proud of our team's efforts in helping secure a tax equity investor
for the transaction."
Mr. Li continued, "The U.S. remains an important market for us,
and this sale is another example of the Company's ability to grow
its U.S. footprint. Our project pipeline in the U.S. remains
solid, and we expect the region to be a key growth market for us in
the next several years."
About ReneSola
Founded in 2005, and listed on the New York Stock Exchange in
2008, ReneSola (NYSE: SOL) is an international leading brand of
solar project developer and operator. Leveraging its global
presence and solid experience in the industry, ReneSola is well
positioned to develop green energy projects with attractive return
around the world. For more information, please visit
www.renesolapower.com.
About Greenbacker Renewable Energy Company
Greenbacker Renewable Energy Company is a publicly registered,
non-traded limited liability company that owns and operates a
diversified portfolio of income-producing renewable energy power
plants, energy efficiency projects and other sustainable
investments in excess of 200 megawatts of power generation assets
as of March 31, 2018.
About Rockwood Group
Rockwood Group is a national investment and asset management
firm that provides innovative financing through public/private
partnerships and access to capital markets for economic development
and energy-related projects. Rockwood focuses on
understanding, meeting and exceeding the specific needs and
objectives of our investor partners and the communities in which we
invest. Rockwood Management Corporation is owned by its
employees through an employee stock ownership plan. To learn
more visit: www.RockwoodAM.com.
For investor and media inquiries, please contact:
In China:
ReneSola Ltd
Mr. Johnny Pan
+86 (21) 6280-9180 x131
ir@renesolapower.com
The Blueshirt Group Asia
Mr. Gary Dvorchak, CFA
+86 (138) 1079-1480
gary@blueshirtgroup.com
In the United
States:
The Blueshirt Group
Mr. Ralph Fong
+1 (415) 489-2195
ralph@blueshirtgroup.com
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SOURCE ReneSola Ltd.